Expert Chaslau Koniukh
  • Biography
  • Analytics
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Market terminology
  • Stock Market
  • World exchanges
Chinese authorities

The Chinese authorities decided to reduce duties for the U.S.

29.10.2020
2 min read

Chinese authorities announced duties cut for US: details

There has been a positive shift in the relationship between China and the United States. Whereas earlier representatives of the powers only discussed possible easing of trade, now the Chinese authorities have announced a decisive step that will improve the situation between the powers and ease the pressure on the world market that was observed as a result of the confrontation.
According to information from Beijing, the government plans to halve duties on American goods. The list will include a number of US producers and products worth $75 billion. The new rule applies to goods for which the increased tariffs were introduced in September last year. Then the duty rate was 10%, and now it has been reduced to 5%. Products, subject to 5% tax in 2019, will now pay a duty of 2.5%.
The Chinese authorities made such a decision after negotiations with the US, which happened in January. Then representatives of the countries signed the first part of the agreement on trade relations. At the same time, the White House has reserved the right to leave duties in the amount of 25% that are imposed on goods from China, the amount of which is $259 billion. There is a 7.5% rate for the products, the volume of imports of which amounted to $120 billion.
In addition to this item, the agreement suggests that China will buy $75 billion worth of industrial segment products from the U.S., while agricultural products – $40 billion and energy – $50 billion. In addition, within two years, China will have to order services from the U.S. for about $35-40 billion. Such a policy will enable the US to reduce the gap between the import/export indicators in relation to China, currently this imbalance is several hundred billion dollars.

Chinese authorities

The unification of U.S. and Chinese forces is important on another issue – the fight against coronavirus. Washington sent a team of epidemiologists to Beijing to help find ways to eliminate the disease. Despite the fact that Chinese medical professionals are in control of the process, the situation requires prompt action and comprehensive work, which is better done jointly by the two countries.
The U.S. has repeatedly offered its assistance to Beijing, and the first part of it has already been sent. In Washington, it is hoped that independent and impartial analysis by U.S. professionals will help assess the seriousness of the situation and find a solution as soon as possible.
U.S.-China trade relations deteriorated last year, when duties on imported goods started to rise mutually. The confrontation between the powers reflected in the world market and had a negative impact on economic growth.

Share
0
Previous Post Jorge Paulo Lemann: beer king from Brazil Next Post Natural gas and oil production in Brazil rose to record levels

You Might Also Like

hitting the economy
Global Economy
Weather in Germany is hitting the country’s economy
17.01.2021
Strong economies
Global Economy
Strong economies: development and prospects for Iceland
01.07.2020
Singapore law
Global Economy
Singapore law introduces a license for cryptocurrency companies
18.05.2020
GDP growth in France
Global Economy
GDP growth in France has slowed down for the first time since 2016
19.10.2020
Distributed registry technology
Global Economy
Blockchain and distributed registry technology can be used by the US Treasury Department
07.01.2021
Turkish authorities
Global Economy
The Turkish authorities have imposed restrictions on working with the national currency
29.09.2020

Recent Posts

  • 1the best currency for savings
    BKS Broker: the best currency for savings
    28.02.2021
  • 2second wave of contagion
    How the second wave of contagion will affect the cost of the cryptocurrency
    27.02.2021
  • 3China's economic recovery
    How China’s economic recovery is going: a review of the processes
    26.02.2021
  • 4Wendy Deng
    Wendy Deng: How a poor Chinese girl became one of the most powerful women in the world
    25.02.2021
  • 5PNC Financial Services Group
    Financial Corporation PNC Financial Services Group
    24.02.2021

Popular Posts

  • How China’s economic recovery is going: a review of the processes 0
  • How foreign investments are distributed in the world 0
  • Strong economies: development and prospects for Iceland 0
  • What to do when the stock exchanges are falling: analyze the fall of the indexes 0

Social

Editor's Picks

Chaslau Koniukh

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Latest Posts

the best currency for savings
BKS Broker: the best currency for savings
28.02.2021
second wave of contagion
How the second wave of contagion will affect the cost of the cryptocurrency
27.02.2021
China's economic recovery
How China’s economic recovery is going: a review of the processes
26.02.2021

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh is an international financial expert, a professional investor, an experienced analyst and a practicing trader. He advises European entrepreneurs; holds lectures on investment topics; is the author of scientific articles on work at the stock market.

Recent Posts

  • 1the best currency for savings
    BKS Broker: the best currency for savings
    28.02.2021
  • 2second wave of contagion
    How the second wave of contagion will affect the cost of the cryptocurrency
    27.02.2021
  • 3China's economic recovery
    How China’s economic recovery is going: a review of the processes
    26.02.2021
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Youtube
  • Instagram
  • Biography

Expert Chaslau Koniukh: brief biography and path of formation

Let’s Socialize